SINGAPORE (July 9): Keppel Corporation says it has extended its deadline for KrisEnergy to complete its restructuring process.

The date, which was originally slated for July 15, a week from now, will now be extended to September 30.

On June 5, KrisEnergy said it was “confident” that its credit facility agreement amounting to some US$87 million (S$121.7 million) with Keppel Corporation’s subsidiary Kepinvest Singapore, will remain unchanged.

The credit facility agreement was made on April 30.

On July 8, KrisEnergy says the failure to complete the restructuring by July 15 was a “mandatory prepayment event under the CBA Loan Facility Agreement.

Shares in Keppel Corporation closed 7 cents higher, or 1.2% up, at $6.13 on Wednesday, prior to the announcement.